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HUD - 100 Q&A for Homebuyers Housing About Housing Contact us Keywords Single Family Audience groups Buying a home Events & training FHA insured loans Common questions Housing counseling HUD homes/ REO Owning a home Reference guide Regulatory programs Hospitals Multifamily OAHP Reading room Online forums Work online HUD news Homes Communities Working with HUD Resources Tools Webcasts Mailing lists Contact us Help 100 Questions & Answers About Buying A New Home Information by State Esta página en español Print version Email this to a friend Dear Future Homeowner: Homeownership is becoming a reality for more and more Americans. During 2000, the US homeownership rate reached 67.7%, the highest rate ever. Yet many Americans don't realize that homeownership is within their grasp. A home is a financial asset and more: it's a place to live and raise children; it's a plan for the future; it's an investment in your community. That's why we at the U.S. Department of Housing and Urban Development want all Americans to have an opportunity to enjoy the benefits of owning a home. And we are especially proud of our work to help first-time homebuyers: thanks to our special programs, more than 81% of FHA-insured loans went to first-time homebuyers during 2000. Knowledge is said to open doors. This is literally true when it comes to buying a home. To become a first-time homebuyer, you need to know where and how to begin the homebuying process. The following questions and answers have been carefully selected to give you a foundation of basic knowledge. In addition to helping you begin, this brochure will give you the tools necessary to navigate the entire process - from deciding whether you're ready to buy, all the way to that final proud step, getting the keys to your new home. Calling for this brochure was your first step. Now you can use this information to determine if you're ready to buy a home. if you are ready, contact a real estate agent, lender, or a housing counseling agency. They can help you decide your next step. HUD's FHA has helped more than 30 million people become homeowners since 1934. We want to help you open the door to your own home. After all, HUD and FHA are on your side. Good Luck! TABLE OF CONTENTS Introduction Part I Getting Started Part II Finding Your Home Part III You've Found It Part IV General Financing -- Questions:The Basics Part V First Steps Part VI Finding The Right Loan For You Part VII Closing Part VIII How Can HUD And The FHA help Me Become a Homeowner Part IX Mortgage Insurance Part X FHA Products Glossary GETTING STARTED 1. HOW DO I KNOW IF I'M READY TO BUY A HOME? You can find out by asking yourself some questions: Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable? Do I have a good record of paying my bills? Do I have few outstanding long-term debts, like car payments? Do I have money saved for a down payment? Do I have the ability to pay a mortgage every month, plus additional costs? If you can answer "yes" to these questions, you are probably ready to buy your own home. 2. HOW DO I BEGIN THE PROCESS OF BUYING A HOME? Start by thinking about your situation. Are you ready to buy a home? How much can you afford in a monthly mortgage payment (see Question 4 for help)? How much space do you need? What areas of town do you like? After you answer these questions, make a "To Do" list and start doing casual research. Talk to friends and family, drive through neighborhoods, and look in the "Homes" section of the newspaper. 3. HOW DOES PURCHASING A HOME COMPARE WITH RENTING? The two don't really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing. Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that's an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it. 4. HOW DOES THE LENDER DECIDE THE MAXIMUM LOAN AMOUNT THAT CAN AFFORD? The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA,monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment, combined with non-housing expenses, 4 should total no more than 41% of income. The lender also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount. 5. HOW DO I SELECT THE RIGHT REAL ESTATE AGENT? Start by asking family and friends if they can recommend an agent. Compile a list of several agents and talk to each before choosing one. Look for an agent who listens well and understands your needs, and whose judgment you trust. The ideal agent knows the local area well and has resources and contacts to help you in your search. Overall, you want to choose an agent that makes you feel comfortable and can provide all the knowledge and services you need. 6. HOW CAN I DETERMINE MY HOUSING NEEDS BEFORE I BEGIN THE SEARCH? Your home should fit way you live, with spaces and features that appeal to the whole family. Before you begin looking at homes, make a list of your priorities - things like location and size. Should the house be close to certain schools? your job? to public transportation? How large should the house be? What type of lot do you prefer? What kinds of amenities are you looking for? Establish a set of minimum requirements and a 'wish list." Minimum requirements are things that a house must have for you to consider it, while a "wish list" covers things that you'd like to have but aren't essential. FINDING YOUR HOME 7 . WHAT SHOULD I LOOK FOR WHEN DECIDING ON A COMMUNITY? Select a community that will allow you to best live your daily life. Many people choose communities based on schools. Do you want access to shopping and public transportation? Is access to local facilities like libraries and museums important to you? Or do you prefer the peace and quiet of a rural community? When you find places that you like, talk to people that live there. They know the most about the area and will be your future neighbors. More than anything, you want a neighborhood where you feel comfortable in. 8. WHAT SHOULD I DO IF I'M FEELING EXCLUDED FROM CERTAIN NEIGHBORHOODS? Immediately contact the U.S. Department of Housing and Urban Development (HUD) if you ever feel excluded from a neighborhood or particular house. Also, contact HUD if you believe you are being discriminated against on the basis of race, color, religion, sex, nationality, familial status, or disability. HUD's Office of Fair Housing has a hotline for reporting incidents of discrimination: 1-800-669-9777 (and 1-800-927-9275 for the hearing impaired). 9. HOW CAN I FIND OUT ABOUT LOCAL SCHOOLS? You can get information about school systems by contacting the city or county school board or the local schools. Your real estate agent may also be knowledgeable about schools in the area. 10. HOW CAN I FIND OUT ABOUT COMMUNITY RESOURCES? Contact the local chamber of commerce for promotional literature or talk to your real estate agent about welcome kits, maps, and other information. You may also want to visit the local library. It can be an excellent source for information on local events and resources, and the librarians will probably be able to answer many of the questions you have. 11. HOW CAN I FIND OUT HOW MUCH HOMES ARE SELLING FOR IN CERTAIN COMMUNITIES AND NEIGHBORHOODS? Your real estate agent can give you a ballpark figure by showing you comparable listings. If you are working with a REALTOR, they may have access to comparable sales maintained on a database. 12. HOW CAN I FIND INFORMATION ON THE PROPERTY TAX LIABILITY? The total amount of the previous year's property taxes is usually included in the listing information. If it's not, ask the seller for a tax receipt or contact the local assessor's off ice. Tax rates can change from year to year, so these figures may be approximate. 13. WHAT OTHER TAX ISSUES SHOULD I TAKE INTO CONSIDERATION? Keep in mind that your mortgage interest and real estate taxes will be deductible. A qualified real estate professional can give you more details on other tax benefits and liabilities, 14. IS AN OLDER HOME A BETTER VALUE THAN A NEW ONE? There isn't a definitive answer to this question. You should look at each home for its individual characteristics. Generally, older homes may be in more established neighborhoods, offer more ambiance, and have lower property tax rates. People who buy older homes, however, shouldn't mind maintaining their home and making some repairs. Newer homes tend to use more modern architecture and systems, are usually easier to maintain, and may be more energy-efficient. People who buy new homes often don't want to worry initially about upkeep and repairs. 15. WHAT SHOULD I LOOK FOR WHEN WALKING THROUGH A HOME? In addition to comparing the home to your minimum requirement and wish lists, use the HUD Home Scorecard and consider the following: Is there enough room for both the present and the future? Are there enough bedrooms and bathrooms? Is the house structurally sound? Do the mechanical systems and appliances work? Is the yard big enough? Do you like the floor plan? Will your furniture fit in the space? Is there enough storage space? (Bring a tape measure to better answer these questions.) Does anything need to repaired or replaced? Will the seller repair or replace the items? Imagine the house in good weather and bad, and in each season. Will you be happy with it year-round? Take your time and think carefully about each house you see. Ask your real estate agent to point out the pros and cons of each home from a professional standpoint. 16. WHAT QUESTIONS SHOULD I ASK WHEN LOOKING AT HOMES? Many of your questions should focus on potential problems and maintenance issues. Does anything need to be replaced? What things require ongoing maintenance (e.g., paint, roof, HVAC, appliances, carpet)? Also ask about the house and neighborhood, focusing on quality of life issues. Be sure the seller's or real estate agent's answers are clear and complete. Ask questions until you understand all of the information they've given. Making a list of questions ahead of time will help you organize your thoughts and arrange all of the information you receive. The HUD Home Scorecard can help you develop your question list. 17. HOW CAN I KEEP TRACK OF ALL THE HOMES I SEE? If possible, take photographs of each house: the outside, the major rooms, the yard, and extra features that you like or ones you see as potential problems. And don't hesitate to return for a second look. Use the HUD Home Scorecard to organize your photos and notes for each house. 18. HOW MANY HOMES SHOULD I CONSIDER BEFORE CHOOSING ONE? There isn't a set number of houses you should see before you decide. Visit as many as it takes to find the one you want. On average, homebuyers see 15 houses before choosing one. Just be sure to communicate often with your real estate agent about everything you're looking for. It will help avoid wasting your time. YOU'VE FOUND IT 19. WHAT DOES A HOME INSPECTOR DO, AND HOW DOES AN INSPECTION FIGURE IN THE PURCHASE OF A HOME ? An inspector checks the safety of your potential new home. Home Inspectors focus especially on the structure, construction, and mechanical systems of the house and will make you aware of only repairs,that are needed. The Inspector does not evaluate whether or not you're getting good value for your money. Generally, an inspector checks (and gives prices for repairs on): the electrical system, plumbing and waste disposal, the water heater, insulation and Ventilation, the HVAC system, water source and quality, the potential presence of pests, the foundation, doors, windows, ceilings, walls, floors, and roof. Be sure to hire a home inspector that is qualified and experienced. It's a good idea to have an inspection before you sign a written offer since, once the deal is closed, you've bought the house as is." Or, you may want to include an inspection clause in the offer when negotiating for a home. An inspection t clause gives you an 'out" on buying the house if serious problems are found,or gives you the ability to renegotiate the purchase price if repairs are needed. An inspection clause can also specify that the seller must fix the problem(s) before you purchase the house. 20. DO I NEED TO BE THERE FOR THE INSPECTION? It's not required, but it's a good idea. Following the inspection, the home inspector will be able to answer questions about the report and any problem areas. This is also an opportunity to hear an objective opinion on the home you'd I like to purchase and it is a good time to ask general, maintenance questions. 21. ARE OTHER TYPES OF INSPECTIONS REQUIRED? If your home inspector discovers a serious problem a more specific Inspection may be recommended. It's a good idea to consider having your home inspected for the presence of a variety of health-related risks like radon gas asbestos, or possible problems with the water or waste disposal system. 22. HOW CAN I PROTECT MY FAMILY FROM LEAD IN THE HOME? If the house you're considering was built before 1978 and you have children under the age of seven, you will want to have an inspection for lead-based point. It's important to know that lead flakes from paint can be present in both the home and in the soil surrounding the house. The problem can be fixed temporarily by repairing damaged paint surfaces or planting grass over effected soil. Hiring a lead abatement contractor to remove paint chips and seal damaged areas will fix the problem permanently. 23. ARE POWER LINES A HEALTH HAZARD? There are no definitive research findings that indicate exposure to power lines results in greater instances of disease or illness. 24. DO I NEED A LAWYER TO BUY A HOME? Laws vary by state. Some states require a lawyer to assist in several aspects of the home buying process while other states do not, as long as a qualified real estate professional is involved. Even if your state doesn't require one, you may want to hire a lawyer to help with the complex paperwork and legal contracts. A lawyer can review contracts, make you aware of special considerations, and assist you with the closing process. Your real estate agent may be able to recommend a lawyer. If not, shop around. Find out what services are provided for what fee, and whether the attorney is experienced at representing homebuyers. 25. DO I REALLY NEED HOMEOWNER'S INSURANCE? Yes. A paid homeowner's insurance policy (or a paid receipt for one) is required at closing, so arrangements will have to be made prior to that day. Plus, involving the insurance agent early in the home buying process can save you money. Insurance agents are a great resource for information on home safety and they can give tips on how to keep insurance premiums low. 26. WHAT STEPS COULD I TAKE TO LOWER MY HOMEOWNER'S INSURANCE COSTS? Be sure to shop around among several insurance companies. Also, consider the cost of insurance when you look at homes. Newer homes and homes constructed with materials like brick tend to have lower premiums. Think about avoiding areas prone to natural disasters, like flooding. Choose a home with a fire hydrant or a fire department nearby. 27. IS THE HOME LOCATED IN A FLOOD PLAIN? Your real estate agent or lender can help you answer this question. If you live in a flood plain, the lender will require that you have flood insurance before lending any money to you. But if you live near a flood plain, you may choose whether or not to get flood insurance coverage for your home. Work with an insurance agent to construct a policy that fits your needs. 28. WHAT OTHER ISSUES SHOULD I CONSIDER BEFORE I BUY MY HOME? Always check to see if the house is in a low-lying area, in a high-risk area for natural disasters (like earthquakes, hurricanes, tornadoes, etc.), or in a hazardous materials area. Be sure the house meets building codes. Also consider local zoning laws, which could affect remodeling or making an addition in the future. Your real estate agent should be able to help you with these questions. 29. HOW DO I MAKE AN OFFER? Your real estate agent will assist you in making an offer, which will include the following information: Complete legal description of the property Amount of earnest money Down payment and financing details Proposed move-in date Price you are offering Proposed closing date Length of time the offer is valid Details of the deal Remember that a sale commitment depends on negotiating a satisfactory contract with the seller, not just Making an offer. Other ways to lower ins-insurance costs include insuring your home and car(s) with the same company, increasing home security, and seeking group coverage through alumni or business associations. Insurance costs are always lowered by raising your deductibles, but this exposes you to a higher out-of-pocket cost if you have to file a claim. 30. HOW DO I DETERMINE THE INITIAL OFFER? Unless you have a buyer's agent, remember that the agent works for the seller. Make a point of asking him or her to keep your discussions and information confidential. Listen to your real estate agent's advice, but follow your own instincts on deciding a fair price. Calculating your offer should involve several factors: what homes sell for in the area, the home's condition, how long it's been on the market, financing terms, and the seller's situation. By the time you're ready to make an offer, you should have a good idea of what the home is worth and what you can afford. And, be prepared for give-and-take negotiation, which is very common when buying a home. The buyer and seller may often go back and forth until they can agree on a price. 31. WHAT IS EARNEST MONEY? HOW MUCH SHOULD I SET ASIDE? Earnest money is money put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price (though the amount can vary with local customs and conditions). If your offer is accepted, the earnest money becomes part of your down payment or closing costs. If the offer is rejected, your money is returned to you. If you back out of a deal, you may forfeit the entire amount. 32. WHAT ARE "HOME WARRANTIES", AND SHOULD I CONSIDER THEM? Home warranties offer you protection for a specific period of time (e.g., one year) against potentially costly problems, like unexpected repairs on appliances or home systems, which are not covered by homeowner's insurance. Warranties are becoming more popular because they offer protection during the time immediately following the purchase of a home, a time when many people find themselves cash-strapped. GENERAL FINANCING QUESTIONS:THE BASICS 33. WHAT IS A MORTGAGE? Generally speaking, a mortgage is a loan obtained to purchase real estate. The "mortgage" itself is a lien (a legal claim) on the home or property that secures the promise to pay the debt. All mortgages have two features in common: principal and interest. 34. WHAT IS A LOAN TO VALUE (LTV) HOW DOES IT DETERMINE THE SIZE OF MY LOAN? The loan to value ratio is the amount of money you borrow compared with the price or appraised value of the home you are purchasing. Each loan has a specific LTV limit. For example: With a 95% LTV loan on a home priced at $50,000, you could borrow up to $47,500 (95% of $50,000), and would have to pay,$2,500 as a down payment. The LTV ratio reflects the amount of equity borrowers have in their homes. The higher the LTV the less cash homebuyers are required to pay out of their own funds. So, to protect lenders against potential loss in case of default, higher LTV loans (80% or more) usually require mortgage insurance policy. 35. WHAT TYPES OF LOANS ARE AVAILABLE AND WHAT ARE THE ADVANTAGES OF EACH? Fixed Rate Mortgages: Payments remain the same for the the life of the loan Types 15-year 30-year Advantages Predictable Housing cost remains unaffected by interest rate changes and inflation. Adjustable Rate Mortgages (ARMS): Payments increase or decrease on a regular schedule with changes in interest rates; increases subject to limits Types Balloon Mortgage- Offers very low rates for an Initial period of time (usually 5, 7, or 10 years); when time has elapsed, the balance is clue or refinanced (though not automatically) Two-Step Mortgage- Interest rate adjusts only once and remains the same for the life of the loan ARMS linked to a specific index or margin Advantages Generally offer lower initial interest rates Monthly payments can be lower May allow borrower to qualify for a larger loan amount 36. WHEN DO ARMS MAKE SENSE? An ARM may make sense If you are confident that your income will increase steadily over the years or if you anticipate a move in the near future and aren't concerned about potential increases in interest rates. 37. WHAT ARE THE ADVANTAGES OF 15- AND 30-YEAR LOAN TERMS? 30-Year: In the first 23 years of the loan, more interest is paid off than principal, meaning larger tax deductions. As inflation and costs of living increase, mortgage payments become a smaller part of overall expenses. 15-year: Loan is usually made at a lower interest rate. Equity is built faster because early payments pay more principal. 38. CAN I PAY OFF MY LOAN AHEAD OF SCHEDULE? Yes. By sending in extra money each month or making an extra payment at the end of the year, you can accelerate the process of paying off the loan. When you send extra money, be sure to indicate that the excess payment is to be applied to the principal. Most lenders allow loan prepayment, though you may have to pay a prepayment penalty to do so. Ask your lender for details. 39. ARE THERE SPECIAL MORTGAGES FOR FIRST-TIME HOMEBUYERS? Yes. Lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that made purchasing a home difficult in the past. Lenders may now be able to help borrowers who don't have a lot of money saved for the down payment and closing costs, have no or a poor credit history, have quite a bit of long-term debt, or have experienced income irregularities. 40. HOW LARGE OF A DOWN PAYMENT DO I NEED? There are mortgage options now available that only require a down payment of 5% or less of the purchase price. But the larger the down payment, the less you have to borrow, and the more equity you'll have. Mortgages with less than a 20% down payment generally require a mortgage insurance policy to secure the loan. When considering the size of your down payment, consider that you'll also need money for closing costs, moving expenses, and - possibly -repairs and decorating. 41. WHAT IS INCLUDED IN A MONTHLY MORTGAGE PAYMENT? The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes, homeowner's insurance, and mortgage insurance (if applicable). 42. WHAT FACTORS AFFECT MORTGAGE PAYMENTS? The amount of the down payment, the size of the mortgage loan, the interest rate, the length of the repayment term and payment schedule will all affect the size of your mortgage payment. 43. HOW DOES THE INTEREST RATE FACTOR IN SECURING A MORTGAGE LOAN? A lower interest rate allows you to borrow more money than a high rate with the some monthly payment. Interest rates can fluctuate as you shop for a loan, so ask-lenders if they offer a rate "lock-in"which guarantees a specific interest rate for a certain period of time. Remember that a lender must disclose the Annual Percentage Rate (APR) of a loan to you. The APR shows the cost of a mortgage loan by expressing it in terms of a yearly interest rate. It is generally higher than the interest rate because it also includes the cost of points, mortgage insurance, and other fees included in the loan. 44. WHAT HAPPENS IF INTEREST RATES DECREASE AND I HAVE A FIXED RATE LOAN? If interest rates drop significantly, you may want to investigate refinancing. Most experts agree that if you plan to be in your house for at least 18 months and you can get a rate 2% less than your current one, refinancing is smart. Refinancing may, however, involve paying many of the same fees paid at the original closing, plus origination and application fees. 45. WHAT ARE DISCOUNT POINTS? Discount points allow you to lower your interest rate. They are essentially prepaid interest, With each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage, the interest rate is reduced by 1/8 (or.125) of a percentage point. When shopping for loans, ask lenders for an interest rate with 0 points and then see how much the rate decreases With each point paid. Discount points are smart if you plan to stay in a home for some time since they can lower the monthly loan payment. Points are tax deductible when you purchase a home and you may be able to negotiate for the seller to pay for some of them. 46. WHAT IS AN ESCROW ACCOUNT? DO I NEED ONE? Established by your lender, an escrow account is a place to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner's insurance, mortgage insurance (if applicable), and property taxes. Escrow accounts are a good idea because they assure money will always be available for these payments. If you use an escrow account to pay property tax or homeowner's insurance, make sure you are not penalized for late payments since it is the lender's responsibility to make those payments. FIRST STEPS 47. WHAT STEPS NEED TO BE TAKEN TO SECURE A LOAN? The first step in securing a loan is to complete a loan application. To do so, you'll need the following information. Pay stubs for the past 2-3 months W-2 forms for the past 2 years Information on long-term debts Recent bank statements tax returns for the past 2 years Proof of any other income Address and description of the property you wish to buy Sales contract During the application process, the lender will order a report on your credit history and a professional appraisal of the property you want to purchase. The application process typically takes between 1-6 weeks. 48. HOW DO I CHOOSE THE RIGHT LENDER FOR ME? Choose your lender carefully. Look for financial stability and a reputation for customer satisfaction. Be sure to choose a company that gives helpful advice and that makes you feel comfortable. A lender that has the authority to approve and process your loan locally is preferable, since it will be easier for you to monitor the status of your application and ask questions. Plus, it's beneficial when the lender knows home values and conditions in the local area. Do research and ask family, friends, and your real estate agent for recommendations. 49. HOW ARE PRE-QUALIFYING AND PRE-APPROVAL DIFFERENT? Pre-qualification is an informal way to see how much you maybe able to borrow. You can be 'pre-qualified' over the phone with no paperwork by telling a lender your income, your long-term debts, and how large a down payment you can afford. Without any obligation, this helps you arrive at a ballpark figure of the amount you may have available to spend on a house. Pre-approval is a lender's actual commitment to lend to you. It involves assembling the financial records mentioned in Question 47 (Without the property description and sales contract) and going through a preliminary approval process. Pre-approval gives you a definite idea of what you can afford and shows sellers that you are serious about buying. 50. HOW CAN I FIND OUT INFORMATION ABOUT MY CREDIT HISTORY? There are three major credit reporting companies: Equifax, Experian, and Trans Union. Obtaining your credit report is as easy as calling and requesting one. Once you receive the report, it's important to verify its accuracy. Double check the "high credit limit,"'total loan," and 'past due" columns. It's a good idea to get copies from all three companies to assure there are no mistakes since any of the three could be providing a report to your lender. Fees, ranging from $5-$20, are usually charged to issue credit reports but some states permit citizens to acquire a free one. Contact the reporting companies at the numbers listed for more information. CREDIT REPORTING COMPANIES Company Name Phone Number Experian 1-888-524-3666 Equifax 1-800-685-1111 Trans Union 1-800-916-8800 51. WHAT IF I FIND A MISTAKE IN MY CREDIT HISTORY? Simple mistakes are easily corrected by writing to the reporting company, pointing out the error, and providing proof of the mistake. You can also request to have your own comments added to explain problems. For example, if you made a payment late due to illness, explain that for the record. Lenders are usually understanding about legitimate problems. 52. WHAT IS A CREDIT BUREAU SCORE AND HOW DO LENDERS USE THEM? A credit bureau score is a number, based upon your credit history, that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a mortgage loan. The better the score, the better your chances are of getting a loan. Ask your lender for details. 53. HOW CAN I IMPROVE MY SCORE? There are no easy ways to improve your credit score, but you can work to keep it acceptable by maintaining a good credit history. This means paying your bills on time and not overextending yourself by buying more than you can afford. FINDING the RIGHT LOAN for YOU 54. HOW DO I CHOOSE THE BEST LOAN - PROGRAM FOR ME? Your personal situation will determine the best kind of loan for you. By asking yourself a few questions, you can help narrow your search among the many options available and discover which loan suits you best. Do you expect your finances to changeover the next few years? Are you planning to live in this home for a long period of time? Are you comfortable with the idea of a changing mortgage payment amount? Do you wish to be free of mortgage debt as your children approach college age or as you prepare for retirement? Your lender can help you use your answers to questions such as these to decide which loan best fits your needs. 55. WHAT IS THE BEST WAY TO COMPARE LOAN TERMS BETWEEN LENDERS? First, devise a checklist for the information from each lending institution. You should include the company's name and basic information, the type of mortgage, minimum down payment required, interest rate and points, closing costs, loan processing time, and whether prepayment is allowed. Speak with companies by phone or in person. Be sure to call every lender on the list the same day, as interest rates can fluctuate daily. In addition to doing your own research, your real estate agent may have access to a database of lender and mortgage options. Though your agent may primarily be affiliated with a particular lending institution, he or she may also be able to suggest a variety of different lender options to you. 56. ARE THERE ANY COSTS OR FEES ASSOCIATED WITH THE LOAN ORIGINATION PROCESS? Yes. When you turn in your application, you'll be required to pay a loan application fee to cover the costs of underwriting the loan. This fee pays for the home appraisal, a copy of your credit report, and any additional charges that may be necessary. The application fee is generally non-refundable. 57. WHAT IS RESPA? RESPA stands for Real Estate Settlement Procedures Act. It requires lenders to disclose information to potential customers throughout the mortgage process, By doing so, it protects borrowers from abuses by lending institutions. RESPA mandates that lenders fully inform borrowers about all closing costs, lender servicing and escrow account practices, and business relationships between closing service providers and other parties to the transaction. For more information on RESPA , or call 1-800-569-4287 for a local counseling referral. 58. WHAT IS A GOOD FAITH ESTIMATE, AND HOW DOES IT HELP ME? It's an estimate that lists all fees paid before closing, all closing costs, and any escrow costs you will encounter when purchasing a home. The lender must supply it within three days of your application so that you can make accurate judgments when shopping for a loan. 59. BESIDES RESPA, DOES THE LENDER HAVE ANY ADDITIONAL RESPONSIBILITIES? Lenders are not allowed to discriminate in any way against potential borrowers. If you believe a lender is refusing to provide his or her services to you on the basis of race, color, nationality, religion, sex, familial status, or disability, contact HUD's Office of Fair Housing at 1-800-669-9777 (or 1-800-927-9275 for the hearing impaired). 60. WHAT RESPONSIBILITIES DO I HAVE DURING THE LENDING PROCESS? To ensure you won't fall victim to loan fraud, be sure to follow all of these steps as you apply for a loan: Be sure to read and understand everything before you sign. Refuse to sign any blank documents. Do not buy property for someone else. Do not overstate your income. Do not overstate how long you have been employed. Do not overstate your assets. Accurately report your debts. Do not change your income tax returns for any reason. Tell the whole truth about gifts. Do not list fake co-borrowers on your loan application. Be truthful about your credit problems, past and present. Be honest about your intention to occupy the house Do not provide false supporting documents. CLOSING 61. WHAT HAPPENS AFTER I'VE APPLIED FOR MY LOAN? It usually takes a lender between 1-6 weeks to complete the evaluation of your application. Its not unusual for the lender to ask for more information once the application has been submitted. The sooner you can provide the information, the faster your application will be processed. Once all the information has been verified the lender will call you to let you know the outcome of your application. If the loan is approved, a closing date is set up and the lender will review the closing with you. And after closing, you'll be able to move into your new home. 62. WHAT SHOULD I LOOK OUT FOR DURING THE FINAL WALK-THROUGH? This will likely be the first opportunity to examine the house without furniture, giving you a clear view of everything. Check the walls and ceilings carefully, as well as any work the seller agreed to do in response to the inspection. Any problems discovered previously that you find uncorrected should be brought up prior to closing. It is the seller's responsibility to fix them. 63. WHAT MAKES UP CLOSING COST? There may be closing cost customary or unique to a certain locality, but closing cost are usually made up of the following: Attorney's or escrow fees (Yours and your lender's if applicable) Property taxes (to cover tax period to date) Interest (paid from date of closing to 30 days before first monthly payment) Loan Origination fee (covers lenders administrative cost) Recording fees Survey fee First premium of mortgage Insurance (if applicable) Title Insurance (yours and lender's) Loan discount points First payment to escrow account for future real estate taxes and insurance Paid receipt for homeowner's insurance policy (and fire and flood insurance if applicable) Any documentation preparation fees 64. WHAT CAN I EXPECT TO HAPPEN ON CLOSING DAY? You'll present your paid homeowner's insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller (remainder of down payment, prepaid taxes, etc.) and then the money the seller owes you (unpaid taxes and prepaid rent, if applicable). The seller will provide proofs of any inspection, warranties, etc. Once you're sure you understand all the documentation, you'll sign the mortgage, agreeing that if you don't make payments the lender is entitled to sell your property and apply the sale price against the amount you owe plus expenses. You'll also sign a mortgage note, promising to repay the loan. The seller will give you the title to the house in the form of a signed deed. You'll pay the lender's agent all closing costs and, in turn,he or she will provide you with a settlement statement of all the items for which you have paid. The deed and mortgage will then be recorded in the state Registry of Deeds, and you will be a homeowner. 65. WHAT DO I GET AT CLOSING? Settlement Statement, HUD-1 Form (itemizes services provided and the fees charged; it is filled out by the closing agent and must be given to you at or before closing) Truth-in-Lending Statement Mortgage Note Mortgage or Deed of Trust Binding Sales Contract (prepared by the seller; your lawyer should review it) Keys to your new home HOW CAN HUD and the FHA HELP ME BECOME a HOMEOWNER 66 . WHAT IS THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT? Also known as HUD, the U.S. Department of Housing and Urban Development was established in 1965 to develop national policies and programs to address housing needs in the U.S. One of HUD's primary missions is to create a suitable living environment for all Americans by developing and improving the country's communities and enforcing fair housing laws 67. HOW DOES HUD HELP HOMEBUYERS AND HOMEOWNERS? HUD helps people by administering a variety of programs that develop and support affordable housing. Specifically, HUD plays a large role in homeownership by making loans available for lower- and moderate-income families through its FHA mortgage insurance program and its HUD Homes program. HUD owns homes in many communities throughout the U.S. and offers them for sale at attractive prices and economical terms. HUD also seeks to protect consumers through education, Fair Housing Laws, and housing rehabilitation initiatives. 68. WHAT IS THE FHA? Now an agency within HUD, the Federal Housing Administration was established in 1934 to advance opportunities for Americans to own homes. By providing private lenders with mortgage insurance, the FHA gives them the security they need to lend to first-time buyers who might not be able to qualify for conventional loans. The FHA has helped more than 26 million Americans buy a home. 69. HOW CAN THE FHA ASSIST ME IN BUYING A HOME? The FHA works to make homeownership a possibility for more Americans. With the FHA, you don't need perfect credit or a high-paying job to qualify for a loan. The FHA also makes loans more accessible by requiring smaller down payments than conventional loans. In fact, an FHA down payment could be as little as a few months rent. And your monthly payments may not be much more than rent. 70. HOW IS THE FHA FUNDED? Lender claims paid by the FHA mortgage insurance program are drawn from the Mutual Mortgage Insurance fund. This fund is made up of premiums paid by FHA-insured loan borrowers. No tax dollars are used to fund the program. 71. WHO CAN QUALIFY FOR FHA LOANS anyone who meets the credit requirements, can afford the mortgage payments and cash investment, and who plans to use the mortgaged property as a primary residence may apply for an FHA-insured loan. 72. WHAT IS THE FHA LOAN LIMIT? FHA loan limits vary throughout the country, from $115,200 in low-cost areas to $208,800 in high-cost areas. The loan maximums for multi-unit homes are higher than those for single units and also vary by area. Because these maximums are linked to the conforming loan limit and average area home prices, FHA loan limits are periodically subject to change. Ask your lender for details and confirmation of current limits. 73. WHAT ARE THE STEPS INVOLVED IN THE FHA LOAN PROCESS? With the exception of a few additional forms, the FHA loan application process is similar to that of a conventional loan (see Question 47). With new automation measures, FHA loans may be originated more quickly than before. And, if you don't prefer a face-to-face meeting, you can apply for an FHA loan via mail, telephone, the Internet, or video conference. 74. HOW MUCH INCOME DO I NEED TO HAVE TO QUALIFY FOR AN FHA LOAN? There is no minimum income requirement. But you must prove steady income for at least three years, and demonstrate that you've consistently paid your bills on time. 75. WHAT QUALIFIES AS AN INCOME SOURCE FOR THE FHA? Seasonal pay, child support, retirement pension payments, unemployment compensation, VA benefits, military pay, Social Security income, alimony, and rent paid by family all qualify as income sources. Part-time pay, overtime, and bonus pay also count as long as they are steady. Special savings plans-such as those set up by a church or community association - qualify, too. Income type is not as important as income steadiness with the FHA. 76. CAN I CARRY DEBT AND STILL QUALIFY FOR FHA LOANS? Yes. Short-term debt doesn't count as long as it can be paid off within 10 months. And some regular expenses, like child care costs, are not considered debt. Talk to your lender or real estate agent about meeting the FHA debt-to-income ratio. 77. WHAT IS THE DEBT-TO-INCOME RATIO FOR FHA LOANS? The FHA allows you to use 29% of your income towards housing costs and 41% towards housing expenses and other long-term debt. With a conventional loan, this qualifying ratio allows only 28% toward housing and 36% towards housing and other debt 78. CAN I EXCEED THIS RATIO? You may qualify to exceed if you have: a large down payment a demonstrated ability to pay more toward your housing expenses substantial cash reserves net worth enough to repay the mortgage regardless of income evidence of acceptable credit history or limited credit use less-than-maximum mortgage terms funds provided by an organization a decrease in monthly housing expenses 79. HOW LARGE A DOWN PAYMENT DO I NEED WITH AN FHA LOAN? You must have a down payment of at least 3% of the purchase price of the home. Most affordable loan programs offered by private lenders require between a 3%-5% down payment, with a minimum of 3% coming directly from the borrower's own funds. 80. WHAT CAN I USE TO PAY THE DOWN PAYMENT AND CLOSING COSTS OF AN FHA LOAN? Besides your own funds, you may use cash gifts or money from a private savings club. If you can do certain repairs and improvements yourself, your labor may be used as part of a down 8 payment (called -sweat equity"). If you are doing a lease purchase, paying extra rent to the seller may also be considered the same as accumulating cash. 81. HOW DOES MY CREDIT HISTORY IMPACT MY ABILITY TO QUALIFY? The FHA is generally more flexible than conventional lenders in its qualifying guidelines. In fact, the FHA allows you to re-establish credit if: two years have passed since a bankruptcy has been discharged all judgments have been paid any outstanding tax liens have been satisfied or appropriate arrangements have been made to establish a repayment plan with the IRS or state Department of Revenue three years have passed since a foreclosure or a deed-in-lieu has been resolved 82. CAN I QUALIFY FOR AN FHA LOAN WITHOUT A CREDIT HISTORY? Yes. If you prefer to pay debts in cash or are too young to have established credit, there are other ways to prove your eligibility. Talk to your lender for details. 83. WHAT TYPES OF CLOSING COSTS ARE ASSOCIATED WITH FHA-INSURED LOANS? Except for the addition of an FHA mortgage insurance premium, FHA closing costs are similar to those of a conventional loan outlined in Question 63. The FHA requires a single, upfront mortgage insurance premium equal to 2.25% of the mortgage to be paid at closing (or 1.75% if you complete the HELP program- see Question 91). This initial premium may be partially refunded if the loan is paid in full during the first seven years of the loan term. After closing, you will then be responsible for an annual premium - paid monthly - if your mortgage is over 15 years or if you have a 15-year loan with an LTV greater than 90%. 84. CAN I ROLL CLOSING COSTS INTO my FHA LOAN? No. Though you can't roll closing costs into your FHA loan, you may be able to use the amount you pay for them to help satisfy the down payment requirement. Ask your lender for details. 85. ARE FHA LOANS ASSUMABLE? Yes. You can assume an existing FHA-insured loan, or, if you are the one deciding to sell, allow a buyer to assume yours. Assuming a loan can be very beneficial, since the process is streamlined and less expensive compared to that for a new loan. Also, assuming a loan can often result in a lower interest rate. The application process consists basically of a credit check and no property appraisal is required. And you must demonstrate that you have enough income to support the mortgage loan. In this way, qualifying to assume a loan is similar to the qualification requirements for a new one. 86. WHAT SHOULD I DO IF I CAN'T MAKE A PAYMENT ON LOAN? Call or, write to your lender as soon as possible. Clearly explain the situation and be prepared to provide him or her with financial information. 87. ARE THERE ANY OPTIONS IF I FALL BEHIND ON MY LOAN PAYMENTS? Yes. Talk to your lender or a HUD-approved counseling agency for details. Listed below are a few options that may help you get back on track. For FHA loans: Keep living in your home to qualify for assistance. Contact a HUD-approved housing counseling agency (1-800-569-4287 or TDD: 1-800-483-2209) and cooperate with the counselor/lender trying to help you. HUD has a number of special loss mitigation programs available to help you: Special Forbearance: Your lender will arrange for a revised repayment plan which may Include temporary reduction or suspension of payments; you can qualify by having an Involuntary reduction in your Income or Increase In living expenses. Mortgage Modification: Allows refinance debt and/or extend the term of the your mortgage loan which may reduce your monthly payments; you can qualify if you have recovered from financial problems, but net Income Is less than before. Partial Claim: Your lender maybe able to help you obtain an interest-free loan from HUD to bring your mortgage current. Pre-foreclosure Sale: Allows you to sell your property and pay off your mortgage loan ,to avoid foreclosure. Deed-in lieu of Foreclosure: Lets you voluntarily "give back" your property to the lender; it won't save your house but will help you avoid the costs, time, and effort of the foreclosure process. If you are having difficulty with an-uncooperative lender or feel your loan servicer is not providing you with the most effective loss mitigation options, call the FHA Loss Mitigation Center at 1-888-297-8685 for additional help. For Conventional Loans: Talk to your lender about specific loss mitigation options. Work directly with him or her to request a "workout packet." A secondary lender, like Fannie Mae or Freddie Mac, may have purchased your loan. Your lender can follow the appropriate guidelines set by Fannie or Freddie to determine the best option for your situation. Fannie Mae does not deal directly with the borrower. They work with the lender to determine the loss mitigation program that best fits your needs. Freddie Mac, like Fannie Mae, will usually only work with the loan servicer. However, if you encounter problems with your lender during the loss mitigation process, you can coil customer service for help at 1-800-FREDDIE (1-800-373-3343). In any loss mitigation situation, it is important to remember a few helpful hints: Explore every reasonable alternative to avoid losing your home, but beware of scams. For example, watch out for: Equity skimming: a buyer offers to repay the mortgage or sell the property if you sign over the deed and move out. Phony counseling agencies: offer counseling for a fee when it is often given at no charge. Don't sign anything you don't understand. MORTGAGE INSURANCE 88. WHAT IS MORTGAGE INSURANCE? Mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home mortgages. It's required primarily for borrowers making a down payment of less than 20%. 89. HOW DOES MORTGAGE INSURANCE WORK? IS IT LIKE HOME OR AUTO INSURANCE? Like home or auto insurance, mortgage insurance requires payment of a premium, is for protection against loss, and is used in the event of an emergency. If a borrower can't repay an insured mortgage loan as agreed, the lender may foreclose on the property and file a claim with the mortgage insurer for some or most of the total losses. 90. DO I NEED MORTGAGE INSURANCE? HOW DO I GET IT? You need mortgage insurance only if you plan to make a down payment of less than 20% of the purchase price of the home. The FHA offers several loan programs that may meet your needs. Ask your lender for details. 91. HOW CAN I RECEIVE A DISCOUNT ON THE FHA INITIAL MORTGAGE INSURANCE PREMIUM? Ask your real estate agent or lender for information on the HELP program from the FHA. HELP - Homebuyer Education Learning Program - is structured to help people like you begin the homebuying process. It covers such topics as budgeting, finding a home, getting a loan, and home maintenance. In most cases, completion of this program may entitle you to a reduction in the initial FHA mortgage insurance premium from 2.25% to 1.75% of the purchase price of your new home. 92. WHAT IS PMI? PMI stands for Private Mortgage Insurance or Insurer. These are privately-owned companies that provide mortgage insurance. They offer both standard and special affordable programs for borrowers. These companies provide guidelines to lenders that detail the types of loans they will insure. Lenders use these guidelines to determine borrower eligibility. PMI's usually have stricter qualifying ratios and larger down payment requirements than the FHA, but their premiums are often lower and they insure loans that exceed the FHA limit. FHA PRODUCTS 93. WHAT IS A 203(b) LOAN? This is the most commonly used FHA program. It offers a low down payment, flexible qualifying guidelines, limited lender's fees, and a maximum loan amount. 94. WHAT IS A 203(k) LOAN? This is a loan that enables the homebuyer to finance both the purchase and rehabilitation of a home through a single mortgage. A portion of the loan is used to pay off the seller's existing mortgage and the remainder is placed in an escrow account and released as rehabilitation is completed. Basic guidelines for 203(k) loans are as follows: The home must be at least one year old. The cost of rehabilitation must be at least $5,000, but the total property value - including the cost of repairs - must fall within the FHA maximum mortgage limit. The 203(k) loan must follow many of the 203(b) eligibility requirements. Talk to your lender about specific improvement, energy efficiency, and structural guidelines. 95. WHAT IS AN ENERGY EFFICIENT MORTGAGE (EEM)? The Energy Efficient Mortgage allows a homebuyer to save future money on utility bills. This is done by financing the cost of adding energy-efficiency features to a new or existing home as part of an FHA-insured home purchase. The EEM can be used with both 203(b) and 203(k) loans. Basic guidelines for EEMs are as follows: The cost of improvements must be determined by a Home Energy Rating System or by an energy consultant. This cost must be less than the anticipated savings from the improvements. One- and two-unit new or existing homes are eligible; condos are not. The improvements financed may be 5% of property value or $4,000, whichever is greater. The total must fall within the FHA loan limit. 96. DELETED. 97. WHAT IS A TITLE I LOAN? Given by a Lender and insured by the FHA, a Title I loan is used to make non-luxury renovations and repairs to a home. It offers a manageable interest rate and repayment schedule. Loans are limited to between $5,000 and 20,000. If the loan amount is under 7,500, no lien is required against your home. Ask your lender for details. 98. WHAT OTHER LOAN PRODUCTS OR PROGRAMS DOES THE FHA OFFER? The FHA also insures loans for the purchase or rehabilitation of manufactured housing, condominiums, and cooperatives. It also has special programs for urban areas, disaster victims, and members of the armed forces. Insurance for ARMS is also available from the FHA. 99. HOW CAN I OBTAIN AN FHA-INSURED LOAN? Contact an FHA-approved lender such as a participating mortgage company, bank, savings and loan association, or thrift. For more information on the FHA and how you can obtain an FHA loan, visit the HUD web site at http://www.hud.gov or call a HUD-approved counseling agency at 1-800-569-4287 or TDD: 1-800-877-8339. 100. HOW CAN I CONTACT HUD? Visit the web site at http://www.hud.gov or look in the phone book "blue pages" for a listing of the HUD office near you. Return to Top Content updated April 4, 2003 Back to top FOIA Privacy Web Policies and Important Links Home U.S. Department of Housing and Urban Development 451 7th Street S.W., Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455 Find the address of a HUD office near you

New Homes New home

DOE Building Technologies Program: Homes Search Help More Search Options Search Site Map Subject Index -- EERE Information Center Homes Building America Projects Your State Energy Office Energy Savers Website Home Energy Saver Tool Virtual Home Navigator Consumer Energy Information Efficient Windows Home Energy magazine Real Goods Ways to Save Use a programmable thermostat to control the heating and cooling in your home Compare your energy use against the national average Conduct a home energy audit to determine the largest savings potential Install energy efficient lighting such as compact fluorescent lamps (CFLs) Hire a professional to help you insulate and repair your ducts Need help lowering your energy bills? As many as 30 million low-income families in the U.S. are eligible for home weatherization help. Visit the Weatherization Assistance Program web site for information Homes Use Energy Like It's Going Out of Style The typical U.S. family spends $1,300 a year on home energy bills, and some of that energy is wasted. Heating, ventilating and air conditioning units are inefficient, windows leak conditioned air, and appliances devour energy. This is money out of your pocket, and it's bad news for the environment—electricity generated by fossil fuels for a single home puts more carbon dioxide into the air than two average cars. Building Energy-Efficient New Homes New home construction presents an opportunity to incorporate energy-saving features right from the start. Across the nation, savvy homeowners and home builders are demonstrating that energy-smart building choices can help homeowners save on energy bills and, at the same time, give homebuilders a competitive advantage. The Good News? Well, maybe using so much energy—especially in the form of fossil fuels—is going out of style. Homeowners and renters know that saving energy means saving money, and they're realizing that it does not mean sacrificing functionality. There are many things you can do to save energy, ranging from long-term investments to simple no- or low-cost changes. In fact, simple adjustments—like letting your dishes air dry—add up to significant savings. Looking for long-term savings? Because we use-and waste-energy in so many ways, there are plenty of options for cutting back. If you replace 25% of your lights in high-use areas with fluorescents, you can save about 50% of your lighting energy bill. In the market for a new appliance? Invest a little extra money in an energy-efficient product and save more money in the long run. If you're building an addition to your home, double-paned windows and proper insulation will reduce your heating and cooling costs, and strategically placed windows will provide daylighting. From water heating to landscaping, most areas of your home offer opportunities to save. But we will always need energy, and that's why many homeowners are turning to renewable energy sources for a cleaner, more sustainable choice. This can mean investing in solar panels to supply your home's electricity or purchasing a solar water heater. It can also mean installing ground source heat pumps that use the heat of the earth to moderate the temperature of your home. In many areas, utility companies offer clean energy options such as wind power. And that's not all. While you're at the business of saving money, you'll help reduce dependence on fossil fuels, which increases domestic security. You'll also help the environment. In 2000, residences accounted for 20% of U.S. energy-related carbon dioxide emissions—that's 313.4 million metric tons of carbon dioxide. Saving energy also goes hand in hand with other sustainable choices, like saving water and using more friendly materials and products, like paint, carpet, and cleaners. This is good news for the environment, but it also improves the health of your home, so you can breathe easy. So, where to start? A home energy audit will help you determine what changes will save the most energy and money. If you'd like an overview of energy use in homes, check out the Virtual Home Navigator . Energy Savers is full of useful tips for saving energy, and Home Energy Saver allows you to plug in specific information about your home to find out where you have the most potential for savings. By now, chances are you've come up with a much better way to spend your money than sending it out your single-paned window. A college savings fund, perhaps, or a water-saving clothes washer? Or how about that vacation you've been dreaming about? Printable Version Webmaster | Security & Privacy | Building Technologies Program Home | EERE Home U.S. Department of Energy Content Last Updated: 07/08/2004

Texas Land 700 West

Jerry Patterson For Texas Land - Community & Social Services - Austin, TX, 78701-2727 - Citysearch 7 BOC Spa & Beauty: 7 days till voting begins -- New to Citysearch? Sign In · Help · Dec 29 2005 Home Restaurants Bars & Clubs Hotels Shopping Spa & Beauty Movies Events See More Categories » Search Business name, category, and/or keyword Search by name only Address, city & state, or zip | Neighborhood Address, city & state, or zip | Neighborhood Address, city & state, or zip | Airport Address, city & state, or zip | Attraction Select a Austin Neighborhood Arboretum Bergstrom Airport Buda CedarPk/Leander Downtown Austin East Austin Georgetown Hill Country Hyde Park Lake Travis North Austin Northeast Austin Northwest Hills Oak Hill Round Rock/Pflugerville San Marcos South Austin Southeast Austin Tarrytown Travis Heights University of Texas - Austin West Austin West Lake Hills Select an Austin Airport Select an Austin Attraction My Locations Add/edit locations Recent Locations Clear recent locations Save to My Citysearch Printer Friendly Version Home · Yellow Pages · Community & Social Services · Political Organizations · Profile Jerry Patterson For Texas Land 700 West Ave Austin, TX 78701-2727 (512) 477-2427 7.6 Overall Popular About our ratings Ratings feedback Send to a Friend Own this business? » Enhance or edit your listing See something wrong? » Suggest a correction Things to do nearby: 700 West Ave Austin, TX 78701-2727 · Restaurants · Hotels · Bars · Movie Theaters · Department Stores · Shopping Centers & Malls · Grocery Stores · Pharmacies · Florists · Banks Related Searches · Austin Community & Social Services · Austin Political Organizations Community & Social Services · Search anything in Austin · Search Yellow Pages in Austin · Search other Cities · Browse Austin Editorial Lists Related Editorial Content Dog-Friendly Austin We've sniffed out the city's best spots for a full day of doggie nirvana. So grab a leash and lap up the fun. Sail On Find a sport on the water that uses your muscles. Downtown Walking Tour The must-dos of downtown. View More » Driving Directions 1. Enter starting address: Address: City: State: Postal Code: 2. Enter destination address: Address: City: State: Postal Code: Options Display type: Text Turn by turn maps with text Avoid the following: Limited access highways Toll Ferry lanes Find A Different Location Enter Location Address: Address: City: State: Postal Code: About Us | Advertise with Us | Contact Us | Press Center | Site Guide | List Your Business on Citysearch | Become an Affiliate | Job Opportunities | Other Cities | Get a Business Website | Submit an Event | Privacy Policy | Terms of Use | Austin Yellow Pages Citysearch is a registered trademark of 720619 Ontario Inc. and is used under license (C) 2005 Citysearch.com All rights reserved. partner sites: Evite - Entertainment.com - Gifts.com - TripAdvisor - ServiceMagic - Ticketmaster - Expedia - Hotels.com - Hotwire - HSN - LendingTree - Match.com - RealEstate.com - ReserveAmerica - Zerodegrees - CondoSaver - ClassicVacations - Ballard Designs - Frontgate - Garnet Hill - Smith+Noble - The Territory Ahead - Travel Smith

Selling Home

Home Selling - Home Selling Testimonials - Home Sell a Home Buy a Home Services Mortgages City Profiles Appraisals -- Service Directory Foreclosures Mortgages Service Providers Appraise Your Home Moving & Relocation Home Improvement Title Company Search Insurance Lawyers Virtual Tours Home Builders Real Estate Agents Research What is FSBO? City Profiles City Comparisons School Reports Crime Comparisons Salary Calculator Cost of Living Comp. Home Sale Prices Tools Free eBook DIY Software Mortgage Calculators Home Selling Guide Home Buying Guide Ad Writing Tips Real Estate Forms Home Buying Checklist Utilities Connections Your Credit Report Glossary Real Estate News Edit Your Ad Modify Your Ad Cancel Your Ad Upload Photos Help/FAQ Home Selling - Home Selling Testimonials Sold in 6 hours! Piece of cake! Sold to first couple that looked at the house the very morning the ad came out! - R. Deloach Very good response. Would definitely use FSBO again. - Tony Christy Contract in first week with back up contracts! - Mrs. Doss I received 3 offers in one week! Was asking $149,900, received contract for $153,000. - Amy Benham Sold within 3 weeks! - J olene Baldwin Under contract in 5 days! Great response. - Joseph Barnes Piece of cake! The magazine hit the stands Friday, we had 4 offers by Sunday night! Thanks so much. - Judith Ballina Sold in 5 days! - Mickey Boyette It worked great. Lots of calls. Used FSBO contract, worked out great. Got lots of calls. - Matthew Davis I would definitely recommend FSBO. The class was very helpful. Selling by owner was easy and I saved thousands! - Lisa Davies Sold in one day! - Mr. Colvin Sold within one week-still getting calls closed today. Great response! - Arthur Carpenter Our house has been sold for the full asking price. Thanks for helping us in this effort! - Gail Gompers We have a contract on the house. It was on the market for 3 weeks! - Bob Aquino Sold in 13 days! - Greg Clarkson FSBO was easy and my home sold in 3 days! - Mrs. Gottlieb Sold 2nd day. Had 2 offers, the 2nd day. We bought our buyers home! - Susan Baker Never hit the magazine, sold on the internet. Sold in 72 hours! - Thomas Brown I would definitely recommend FSBO. The class was very helpful. Selling by owner was easy and I saved thousands! - Lisa Davies Sold in 6 days! - Mike Gwartney Sold in 1 week, I am still getting calls. - Mr. Hawk Could have sold 15 or 20 times. It all worked out just great. - Fay Edwards I don't have a support question. I just wanted you to know we took an offer on our home in less than eight weeks! We listed in the Wake Co. and had inquiries from as far away as Hawaii via the Web page! Not listing with a real estate agent allowed us to price our home at a fair market value, so the buyer got our home at a super price and we did better than if we had sold higher and paid even a 5% commission! We have recommended your service to everyone we know. Thanks, Dave Fox Just wanted to say thank you.......... With your help, we sold our home within a month and a half from the date of our listing. A task that our Real Estate Agent was unable to accomplish in over 6 months. In addition, your appraisal link was outstanding. We have and will continue to highly recommend your website to everyone we come in contact with.... SUPER JOB FORSALEBYOWNER.COM Thanks again, Jim & Cindy Linn By the way, your site is terrific. I sold my house on this site last August and this particular ad was for my Dad's house with also sold thanks to your great Web Site. Keep up the great work.Lorraine Miller Hello. We have been out of our house for 7 weeks, after selling it with you in 9 days. the savings we made by not using a Real Estate Agent allowed us to include a full basement on our new home. I recommended your company to a customer of mine. David. On Brisbane in lake in the hills. he called and listed with you the day after I told him what a great experience we had using your company, thanks again you guys are the best! Good Morning, and just wanted to let you know that your on-line program ishighly successful. I had at least 2 dozen persons or companies contactingme about selling my home. I picked one finally and sold the house. It wasonly through your program that this happened so quickly. In this neighborhood houses are taking months to years to sell. I went with you in March and sold the house on the 15th of April. Again, my heartfelt thanks, for you must know what a relief it is to have that pressure off.Thank you Very much. Walter 10070817 Unbelievably simple process. Wonderful buyers. First people to look atthe house bought it; we never got a chance to put the sign in the yard.Your service is outstanding and I'm shouting it from the mountaintops, telling all who ask about our great 'luck' in selling our house.Apparently the word is out among many people in this area since wecontinued to receive calls almost daily for the month that the ad was onyour site. I had dreaded the usual process for so long, but it couldn'thave turned out better! Thanks. Melissa I think your Website is one of the BEST sites I've been on. It's so easy tofind what you're looking for!! I wish all websites would design their siteslike yours!!!! Vicki Just a short note to let you all know how completely satisfied we were with your service. We couldn't believe the response we received from listing our house with you. We have already recommended you to several people and will continue to do so. Thanks again." D & B "I wanted to take the time to thank you for your help and assistance in the sale of my home. My only regret is that I did not advertise in For Sale By Owner Connection years ago! I went through countless real estate agents that did nothing for me except give me empty promises. The showings were at best minimal and I was always calling to find out what was going on as they never kept me informed. And for this kind of service I was forced to hand them 6% commission when it sold! When I heard about your organization, I immediately placed an ad. The phone never stopped ringing; I had several showings, and knew who I was dealing with. In a very short time, I was given a sizeable deposit and the rest is history, including the house. Thank you very much. I wish you folks all the best of luck. Your publication has made me and I'm sure a lot of folds very, very happy." McLaughlin, Jr. "Thank you for your support and encouragement. I appreciated advertising in the For Sale By Owner Connection, and always got a lot of calls each time it was published. I just closed last Friday, and received very close to the asking price. I must admit it was sure a nice feeling not to pay out that 6% commission! I saved over $9,000. Nice! Thanks again." J. Scata "We closed on our condo today! I just wanted to tell you what a great service I think you run! We listed with you only 2 months, and with no additional advertising our condo sold. It was definitely worth it, and resulted in savings of several thousand dollars! I have passed your name and # on to several other friends who are selling, and I would not hesitate to recommend you again. Thanks!!" C. Downes My home was listed with an agent for over a year with no results. I advertised with For Sale By Owner.com and Sold my home in 3 Weeks! Pat I had a buyer the first day the Magazine with my home hit the shelves. Thanks, Bluffdale Just wanted to let you know that our buyer came from you. We had over 150 calls. Jennifer We have received at least 20 call this week from your web site alone. Susan My home sold! What more can I say - Oh ya, I saved $11,326! Scott in Provo We were amazed at the response we got in a five week period after having been with Real Estate Agents for 4 years & no response. We ended up with 3-4 serious buyers. Advice & guidance in your book gave us so much confidence. We tell everyone this is the only way to sell their property. We1ve had our closing this week and are extremely pleased with the way this worked out. Thank you so very much for your help," "I received many calls as a result of my ad in your magazine. I still received calls even after my ad ran out." "Thank you FSBO. My home had been listed with Real Estate Agents for over a year. At the end of August, my contract expired & I listed my home with you. Within 3 weeks it was sold. I was able to lower my price because I didn1t have to pay a commission." "We sold our home through FSBO when all the Real Estate Agents told us it wasn't possible. Thanks for proving them wrong!" "We consider ourselves very lucky. We signed up for advertising for 8 issues. The people who bought our home saw our ad in the first issue we advertised in and an offer was made shortly thereafter. We continued to have telephone calls about the house up till & through closing. The staff was always helpful. The signs were professional. The video & book were very useful tools. We would do it again in the future." "Thank you for the professional services you offer homeowners who don't want to pay a Real Estate Agents Fee. In a tight market for sellers, your services offer the homeowner an attractive alternative. The Homeseller's Kit was most helpful and gave us the information we needed.." "The first issue our home was in FSBO prompted 8 calls. Less than 2 weeks later we signed a sale contract with one of these first callers. We are very happy with the results of your magazine. We will strongly recommend FSBO to anyone looking to sell or buy a home." "We are very pleased with the response to our ad - we have had dozens of calls, many showings, and we have two buyers. In two and a half months, we have had much more activity than a real estate company was able to provide in the 18 months that we were listed in the MLS. Thanks again." "We put our seasonal cottage in the For Sale By Owner magazine in early June. We had in excess of 50 inquiries and over 20 showings. We had several offers and accepted a contract on July 22 and closed on August 9. We are very happy with the response we got and would highly recommend For Sale By Owner to anyone selling a home." "We had our home listed with a real estate agency for 6 months to no avail. We then decided to drop the price by the percentage we would have to pay to real estate and we placed a sixth of a page ad in For Sale By Owner. Three days later, the second couple that came through our house purchased it. We are writing to you now because we had our closing on our home and everything went perfectly. Thank you For Sale By Owner for making it all possible. I would and have highly recommended you to anyone selling their home. We received so many calls from the ad (for weeks and weeks) and there was so much more action than when we had it in the hands of real estate." "We got terrific reaction from advertising in FSBO...as good if not better than during 6 months listed with a big shot Real Estate Agents. In our second issue we sold the house and have been telling later callers they were out of luck. For Sale By Owner works!" "We are happy with the "For Sale By Owner" system. The signs were professional and received many comments. We used the open house attachment on weekends resulting in several leads. After less than 60 days, we sold our house to a couple who were working with a Real Estate Agent and saw our house in your magazine. They asked the Real Estate Agent to arrange a showing. We took a deposit and sold the home!" "Thank you For Sale By Owner! Our home was listed with a very "popular" realty company two years ago - to no avail. We were discouraged and ultimately disgusted when our home did not sell. This year, we listed our home (at a much more reasonable price) in FSBO in May and signed a contract for the sale in June!. We are happily on our way to our new home. Thanks!" "We feel your service is very good. Whenever your guide came out we had many calls regarding our house. Your prices are reasonable and you reach a good deal of people. As a matter of fact, the person buying our home is from FSBO. Thank you for your service. It is reliable and it works!" "Just for your info, our house sold 50 days after we advertised with you. I was so surprised at all the response we got. You are a very worthwhile service. Thanks alot" "We placed our ad in FSBO and our buyers came to our home on two occasions to view the house - their third trip they put in an offer. By June 30th we had a signed contract - 2 weeks after our home started in your listing. We have had more than one offer! Many families prefer homes that are for sale by owner because they deal directly with the owner and obtain immediate answers without going thru a Real Estate Agent. The money saved is incredible. Thanks for your help." "Two days after the May 4th issue, I sold my home - the activity at the Open House and the phone calls were not to be believed!. We had 4 people working showing people through and all were tired at the end of the day from the steady stream of people wanting to see our home. I saved $11,000 by using For Sale By Owner. Great job." "I listed my house in your book & I sold it within 3 weeks of my ad. I had 22 phone calls & am very happy I used your For Sale By Owner. I am building another home in the spring & I will use your book again for this home. I could not believe the response received from this ad. I think its a great way to sell & list a home. Thank you." "We advertised our home in the Daily Gazette, the Times Union and For Sale By Owner. We had response from all three but the 1/6 page ad with the photo of the house was the best investment. We didn1t always ask which publication people had seen our ad in but the couple who bought our home had your magazine with them when they came. Your "Open House" signs made a very professional appearance through our neighborhood." "We were very satisfied with the many calls we received due to our ad. We do feel we could have sold the house many times over! When we think what a Real Estate Agent would have charged and what success we had with "For Sale By Owner", there is no doubt we will highly recommend your magazine to any one who is selling. Our many thanks again for your wonderful service. Continued good luck to you." "Our home had been on the market for almost two years with only one offer. I listed with FSBO and within 2 weeks we had a buyer. Thank you for your help. We must have received at least 100 calls. I am really pleased!" "We highly recommend your service! We sold our home in 2 weeks and saved $6,000 in real estate fees! We do suggest that people get a market value on their home before advertising it. You need to be realistic about the price & not add sentimental value to it." Many Thanks "Sorry I'm late in writing - we are so busy packing. The ads in your magazine brought a deluge of calls - over 100 calls! The people who called the first day bought the house. Thank you. Your magazine is doing a great job." "We put our seasonal cottage in the For Sale By Owner magazine in early June. We had in excess of 50 inquiries and over 20 showings. We had several offers and accepted a contract on July 22 and closed on August 9. We are very happy with the response we got and would highly recommend For Sale By Owner to anyone selling a home." "We had our home listed with a real estate agency for 6 months to no avail. We then decided to drop the price by the percentage we would have to pay to real estate and we placed a sixth of a page ad in For Sale By Owner. Three days later, the second couple that came through our house purchased it. We are writing to you now because we had our closing on our home and everything went perfectly. Thank you For Sale By Owner for making it all possible. I would and have highly recommended you to anyone selling their home. We received so many calls from the ad (for weeks and weeks) and there was so much more action than when we had it in the hands of real estate." "We got terrific reaction from advertising in FSBO...as good if not better than during 6 months listed with a big shot Real Estate Agent. In our second issue we sold the house and have been telling later callers they were out of luck. For Sale By Owner works!" "We are happy with the "For Sale By Owner" system. The signs were professional and received many comments. We used the open house attachment on weekends resulting in several leads. After less than 60 days, we sold our house to a couple who were working with a Real Estate Agent and saw our house in your magazine. They asked the Real Estate Agent to arrange a showing. We took a deposit and sold the home!" The ForSaleByOwner program is great! We sold our home in only 3 weeks while other homes around us that were listed with Real Estate Agents took months. It was a great experience and easy. Thanks for your help. Kirk and Jennifer We just wanted to thank you again for helping us sell our home on Bluffview and saving us over $5,000 in commissions. The money we saved with for sale by owner will allow a few more extras in the new house we are building. Keep up the good work! Tom and Rita Your company is fantastic! The money we saved and how easy it was to sell is unbelievable. I can't believe that everyone isn't using your services. It works and if we sell in the future, you'll have our business again. Jeff and Amy Demara Thank you for helping us sell our home. You saved us over $8,000 this time in commissions. The process went just as smoothly as the other two sales and we estimate that between the 3 properties, we've save over $23,000 in real estate commissions. I bet we hold the record as your best customer and will continue to recommend you to all our family and friends. Jim and LuAnn We sold in 4 weeks. The process was easy and very quick. Thanks for your help and keep up the good work. Scott and Wendy Thanks for your help. Your staff was very helpful and I would recommend you to anyone thinking about selling their home. Joanne Saved $12,000 Fantastic! We had our home listed with a Real Estate Agent for 6 months and we got very little activity so we decided to call you. We got more calls in the first 2 weeks than we did with our Real Estate Agent in 6 months. Our buyer saw our home on the internet while they were still in Texas trying to sell their home. I am going to recommend you to everyone I can - your company is unbelievable! Tonya "For Sale by Owner offered all the services we needed to sell our home by ourselves and allowed us the flexibility we needed. We would whole-heartedly recommend their services to anyone and everyone!" Shelly "I had my home on the market for three months with zero offers. Once we decided to give it a try and advertise with you, we sold it in less than one week!" -Richard Kelly "I received more calls from you than from any other advertising I've done. Now the house is under contract with a buyer who saw the home in For Sale by Owner." -Bill Duncan "We are thankful for the exposure we received through your service. And they provided us with all the resources we needed to sell our home!" Nancy Sold $379,900, 24 hours off the internet!!! I couldn't believe it the signs were up and my internet ad was just in, 20 calls in 24 hours and a buyer! Thanks Mr. & Mrs. Beamer Dear "For Sale By Owner .Com" We had our rental house listed for 4 months with a local Real Estate Company with no response. We then listed with another Real Estate Company thinking that they would do a better job. After 3 months, and only 2 showings, we canceled our agreement with this Real Estate Company. We then signed up with the "For Sale By Owner .Com" system. Within a month's time, we had many qualified prospects (not just lookers) and wrote a contract with one of these perspective buyers. After this contract we showed it to 13 more prospects in case our contract fell through. All of these people came through your service. Sincerely, Mr. & Mrs. Brewer Dear "For Sale By Owner .Com" We contracted for your package including advertising and Real Estate Agent MLS. We had good response from the magazine advertising, but because our house did not have a lot of curb appeal, we did not expect a lot of phone calls. However, we had 10 Real Estate Agents show our property through your MLS program, and we did write a contract. After our contract we had at least 20 more realtors wanting to show our house. We saved 3 percent by NOT using a listing agent, and we were very happy that we did not have to pay the normal 7 percent. We were extremely pleased with your service, and I'll refer you to all my friends. There is no better way to sell your home! Thank you! Mrs. Jaroch Dear "For Sale By Owner .Com" "I could have sold my home 30 times over with the responses that I received from the "For Sale By Owner .Com Sincerely Mrs. LaFlash Sold Fast Cash!! Dear "For Sale By Owner .Com" We had problems with our last home sale using a Real Estate Agent but with "For Sale By Owner .Com" Magazine "WE SOLD" - CASH DEAL!!! We're moving into our new home thanks to "For Sale By Owner .Com"! I definitely recommend the package - WHAT A DEAL!! Thank you again Mr. & Mrs. Amberg Dear "For Sale By Owner .Com" I would like to thank "For Sale By Owner .Com" for the excellent responses on my property. I received many calls from both in-state and out-of-state prospective buyers. I knew from the amount of calls that I received that I would sell my home within 2 to 3 months. I sold it recently just as my ad was about to expire. The buyer agreed to my price of $125,000 and the sale is currently pending. I saved $7,500 in real estate fees and was able to help the buyer by offering him $2,000 towards his closing costs. I have previously sold homes through real estate companies but never have I had so many showings as I did by using "For Sale By Owner .Com" Thank you all for the excellent ad and photos on the Internet. I have recommended you to several prospective buyers who have asked me about you and who were thinking about selling their homes. I hope they were smart enough to follow through and use your service. Once again, THANK YOU "For Sale By Owner .Com"!!! Joseph & Tina Dear "For Sale By Owner .Com" Now that we are settled in our new home I wanted to let you know how grateful we are to have had the benefits of your company to assist us in selling our home. We had researched several services that cater to the "for sale by owner" client but none of them offered the exposure that you did. The combination of the yard sign, magazine and internet site generated many telephone calls and more importantly, showings. We received an acceptable contract in less than 21 days because of your program. However, the best part of the entire deal was the amount of money we saved in real estate commissions! For the amount we would have put in someone else's pocket we were able to re-carpet the entire house and re-appliance the whole kitchen! We never would have been able to do that without selling our home on our own! A million thanks to you, we will definitely recommend you!!! Sincerely, Karen & Roger Dear for sale by owner What a program!!!!! As you know we had our house listed with a real estate agent for 6 months with no success. After our listing expired we decided to utilize your services. Our only regret is that we didn't come to you first. Using your program we sold our home on our own in less than 60 days and saved over $9000 in commissions. Thanks for all your help! We'll never need a real estate agent again! Best Regards, Bob Dear For Sale By Owner Magazine, Just a quick note to thank you for your wonderful program which helped us sell our home located at 397 Firestone Dr. in Delaware. We received dozens of phone calls and were in contract within 30 days. We closed within 55 days from the time our ad started and saved ourselves nearly $10,000 in sales commissions. We will definitely recommend your program to all our friends and neighbors. Thanks for all your help! Sincerely, Paul Dear For sale by owner From the day I first contacted your company, all your staff have been nothing but courteous and helpful. I was provided a professional listing on your website, I was listed in your magazine, I was provided signs, contracts, and preferred contacts to helpful legal and title services. Your program provided me the necessary exposure, traffic, and knowledge to sell my home quickly and efficiently. I held routine open houses and I always had good interest and traffic. Your program is simple, concise, complete, and results oriented. On top of all that I saved $ THOUSANDS $ of dollars by selling my home by myself rather than using a Real Estate Agent. D. Powell Dear For Sale By Owner The exposure our home received while listed with FOR SALE BY OWNER far exceeded our expectations. After three weeks on the market we were presented with a full price offer. Also, it offered us the opportunity to show our home instead of a Real Estate Agent. Who better to promote the sale of your home than yourself.I have and will continue to recommend FOR SALE BY OWNER to others. Satisfied customers, Mr. & Mrs. Allen Dear For Sale By Owner Publications: In just 60 days I sold my 2 investment properties through for sale by owner. The response was overwhelming. Between the 2 properties, I received 75 inquiries. 5 prospective buyers were disappointed because they delayed their decision to purchase. Because I sold the properties myself, I saved over $18,000 in real estate commissions. Wishing you well, Dolores Dear Rob and Jeff: Our house sold within two weeks of listing it with FOR SALE BY OWNER. We received lots of telephone calls and loads of people drove by to pick up flyers. Most of all, we saved money, too. Sincerely, June As a first-time property seller, I was skeptical and nervous about trying to save on commission by not using an agent. I was quite surprised to find that the entire process was so easy and I saved thousands of dollars that would have gone to an agent. Thanks Edward We signed up on a Friday and had a contract twelve days later and closed nine weeks later! The buyer found our home while giving his father-in-law a tour of Fort Collins. We saved $15,000 in real estate commission. Thank you for all your help -- especially Germaine! Vicki My experience was wonderful! The staff was extremely friendly and helpful and very courteous! My house was on the market for only 4 days and I had 6 calls within those few days. What a relief to sell so fast! I saved 6% off the selling price that didn't go to a real estate agent! My fiance has worked with your company also -- twice! He sold both times within two weeks! Angie for sale By Owner is an excellent service! The staff was always courteous and very helpful. We got a contract three days after placing the ad. The whole process was a very positive experience and we saved $11,400 in commissions! I highly recommend for sale by owner Rolanda Dear for sale by owner, My wife and I were a little skeptical at first, but we now sold on the "for sale by Owner" system. With the information packet and assistance of for sale by owner reps to answer all of our questions, the selling process was a piece of cake. we were able to sell our Thornton home, receiving many calls from around the Denver metro area. With your assistance we were able to save thousands of dollars it would have cost in Real Estate Agent commissions. We would not hesitate to sell another home through you. Sincerely, James & Stacy They said it couldn't be done! My friends doubted I could sell a $300,000,00 house by myself. For sale By Owner proved them all wrong. We had a contract in 30 days and received full price. What more can I say? You guys are great and I'd definitely do it all over again. Thanks! Best Regards, Mark To whom it may concern, We would just like to say "Thank You" for helping us sell our home. We only had the ad in 1 day and sold our home. We can honestly say that doing a FSBO was a breeze. It felt good saving the $ and doing it ourselves. We'll never use a Real Estate Agent again. For sale by owner really does work, especially if you believe in yourself."Thanks" You've earned our future business. Happy "New" Home Owners Michelle & Charlie Dear Homes For Sale By Owner, I wanted to take this opportunity to thank you for introducing me to the ONLY way that I will ever use to sell real estate; whether it by my own home or an investment property.As you may recall, my wife and I were faced with a situation that we needed to sell our first home after only having lived in it for 13 months. We were listing our home for $295,000, which means we would have to forfeit almost $18,000 in equity just to have a Real Estate Agent sell our home for us! We were also concerned because there was a very similar home to ours that had been unsuccessfully listed with different Real Estate Agents for almost a year without being sold. Fortunately for us, the couple that we purchased our home from had used For Sale By Owner, so we were definitely familiar with the concept. We especially liked the fact that this allowed us to show our own home to potential buyers. No outside party could possibly know as much about your own home as you do. The couple that ended up buying our home mentioned that a big selling point was to see first hand how much we cared about it. Almost 3 weeks to the day after we had our home listed with you, we had two couples fighting to sign a contract with us, for only $2,500 less than our asking price! We turned a situation where we initially thought we were going to lose $18,000 to one where we actually ended up making a nice profit on our home.Oh, by the waythat home that was similar to ours is still for sale. We signed our contract back in October. Thanks again for all of your help! Best Regards, F. and M. Davis Just wanted to let you know that we are under contract on the sale of our home Our closing date is set for 5/28/01. Thanks for providing a great service to homeowners. I was hesitant to try to do this alone until a Real Estate Agent called and told me that "everyone tries to sell by owner and within 2 months or so will then list". He said he could prove that "I would save more money in the long run by listing with an agent versus attempting to sell by owner". That was all the fire I needed. I picked up your magazine and attended the seminar. I knew after the seminar that my home would sell itself. Boy was the Real Estate Agent wrong, our home was under contract 4 weeks after listing with your service and you better believe I called him back and told him the good news that $10,890 was staying in my pocket versus his. His response was just "congratulations" and he hung up the phone. I just gleam inside every time I think about that phone call.... Score another one for the homeowner!. Thanks for all your help! Dave I will never use a Real Estate Agent again!! Selling by owner was so easy, it took only 8 days and my neighbors have been listed for 8-9 months! My ad brought calls from as far away as Texas and Denver but my buyer came from nearby Geneva. Know your market so you price your home right, right from the start and use Homes For Sale By Owner, Inc. Who wouldn't like saving the money we did? If you are selling a house, do it by owner. We had never sold a home this way but absolutely loved the process. If you think about it, since you have lived in your home, you know it better than any stranger, so you should be the one showing it. With the powerful advertising of F.S.B.O. you will sell by owner and save big too. Our buyer came from the Internet and with open and honest negotiations, face-to-face, we put the deal together. Thanks, For Sale By Owner! Even though we'd sold by owner before, we were at a slight disadvantage as we lived at a different house than we were selling. Yes, most people would have therefore given it to a Real Estate Agent but we knew the house and area better than any, so we placed our ad with For Sale By Owner. 3 weeks, 35 calls, 20 showings, and 6 potential buyers later we sold. Would we do it again? Definitely. There's no other choice than For Sale By Owner! For Sale By Owner really reached an area we couldn't touch with our local paper. With our ad we got easily over 30 calls from as far away as Chicago and as close as Wisconsin with our buyer coming from Elk Grove. Realtors charge a 7% fee here in Rockford so selling by owner even makes more sense. Even after selling we continued to get calls while under contract and people asked us to take their names down. Wow! We were still getting phone calls even after we moved and we have received between 200-300 phone calls during our ad placement in H.F.S.B.O. We really enjoyed having control of the sale and not having to deal with pushy or rude Real Estate Agents. The buyers from the magazine were polite and a pleasure to do business with. We are buying new furniture with our savings by owner. Thank you Homes For Sale By Owner! That's right. . .3 days! It happened so fast! The 1st person that came out to see the house bought. Having our townhome in great condition with fresh paint and showing it like a model saved us a lot of time. We will definitely use the you again. Not only did we sell fast but we saved so much money! Our neighbor that was listed at the same time with an agent is still on the market. Thanks again. We'd sell this way again in a heartbeat! Besides the "loads" of phone calls from Real Estate Agents, we got from our ad on average 2 calls a day. It took us approximately 7 weeks to get our contract and our buyer had just sold by owner too! Our neighbor who is listed with a Real Estate Agent can't believe how much action we received with the Homes For Sale By Owner program: the 1/4 page ad, the woodpost sign, and the internet. We saved big and so can you! Selling a manufactured home was not easy, to be honest, but For sale by owner went all out and offered all kinds of advertising advice. With the incredible advertising reach, calls came from as far away as Chicago with an average of 6-7 calls a week and my buyer came from Aurora. I was even listed on the MLS at the same time and calls came from For Sale By Owner 10 to 1 over the MLS. Buyers really pick up this magazine and it just so happens that's where I'm looking right now! Believe it or not, the average market time in our subdivision is 3-4 years! Needless to say, seeing a neighbor in the area sell by owner through F.S.B.O. in 1 month, kind of made it clear which way we were going to sell our home. It didn't happen overnight but we sold in 6 months and got our asking price. 98% of our calls came from you, we even got calls from California and Florida and our buyer came from Schaumburg. We would only sell through For sale by owner next time and we'd highly recommend the signs to compete with Real Estate Agents. WE DID IT!! So can you! We're thrilled we went by owner. Had we listed with a Real Estate Agent and sold, after paying a 6% commission we would have netted $30,000 LESS than selling ourselves! Our phone just kept ringing and still hasn't stopped. We showed the home only on Sundays when it worked into our schedules... We didn't have any Real Estate Agent telling us at any given moment that they needed to show our home. Selling our home using fsbo is the best present anyone has ever given us. Thanks Even when things seemed like everyone else would sell but us, we remained determined we would do it. Perhaps the fact that this wasn't our 1st time selling by owner had something to do with our confidence. We really liked being in control of the process when selling by owner. When selling through a Real Estate Agent, you never know what is being said to buyers, since normally you aren't there. We also knew our home so much better than any Real Estate Agent so we were confident we'd show it better. We were right. It didn't happen with "lightning speed" but we sold it ourselves and saved a lot of $! Thanks again After 9 months of listing with 2 Real Estate Agents and after seeing how things weren't moving in my area, I decided to give it a try, the "for sale by owner" way. Well I did it, and with 4 written offers, plus 4 additional back-up people if things didn't work out. Sell by owner . . . it really works! We sold our home and saved thousands with For sale by owner. You did everything you said you would do. Through full color photo advertising on your website, and the flyers you provided us.The benefits of selling our own home were great. Thank you again for your help in making the sale of our home more economical, more convenient, and easier for us. James & Ruth B. - Clear Lake I have sold four houses using FSBO, saving me over $35,000 in commissions. Paula I want to thank both of you for having created this business. I would certainly gone into foreclosure without you. Thank You. I believe in this system. It is about time homeowners had the option of listing their house having to pay a huge, unnecessary commission. In my case, finding you was a gift from heaven. Jesica I tried to sell my home for six months using a Real Estate Agent and/or the classifieds. With you I sold my home in just two weeks! And we are still getting calls! Thanks. Ann You have a great program! It really works! I sold my house "by owner" and saved over $6,500 in commissions. I am going to tell all my friends about your service. BJ - Pearland I sold my home in three weeks using your services, saving $10,000 in commissions! Gail It's a great service. Maybe offer a local agent to handle paperwork for purchase at a fixed fee. Some states escrow can get complicated. Very happy with forsalebyowner.com website. Two real estate Co's tried to sell this property for two years. It took 5 months for internet. We have had over 1200 hits and only 1 inquiry and that was our buyer. Thank you. Connie Nahser I think your site works extremely well and I thank you for your careful planning. It is user friendly and allowed us to appeal to what we knew was a niche market for historic homes. Together with a very short newspaper ad referring to the web site we got a lot of inquiries from the kind of buyers we hoped to attract. Again, thanks!! Great tool for exposure!!! I would strongly recommend using the "forsalebyowner" web site. After three weeks of local advertising, we placed an ad on your web site. Our house sold in less than 5 days. The internet exposure did the trick. Thank You. Carmeline Gross We are closing on Nov 19th. Thank you for your service -- I have recommended it to others. We have 3 others waiting in line if this does not close. Lots of responsesWe will recommend your program. Thanks again, Burt & Carol Our home was sold within 2 months of listing! Thank You !!! The process of selling a home by ourselves is more than my wife and I have time for now. While I believe that your service has been beneficial, and would eventually result in the sale of my property, we must now turn to a Real Estate Agent to take over the process. I will definitely recommend your service to others. Thank you. You have to have the time! Too many unqualified buyers. Agents do not want to work with you. Had a contract on the house in 3 weeks! "OUR HOME SOLD IN 1 DAY AFTER THE MLS WAS POSTED. THIS PROGRAM SAVED US ~$6,000.00 THANKS FOR THE SAVINGS, GARY AND DIANE. I can't think of a thing you could have done better. We are very satisfied with the service we received. The fact that we could edit our ad at will is especially valuable as we were able to respond based on feedback from those who inquired. Selling the condo was nice and easy thanks to For Sale By Owner. We used the tips that you gave to include the web site in our newspaper ad. With the combination of the internet and local paper, were able to sell within a month. Thank you. Everything went great our home was under contract in just 5 days. The yard sign with direction signs worked out great. Folks drove by on the main road found their way in and then checked us out on the Internet. It is a great system!! It proved to be a great marketing tool - Thanks!! None- I sold my home in about a month without picutures! Your site have literally saved me thouands of $$. Thank you. we recieved almost 2,500 hits and it took only 3 months to have my house sold to a couple from north carolina, Thanks, Jim Haldeman. Would like better image viewing capabilities, something like the ability to view thumbnails that directly popped up larger images. I would also like to see a somewhat of a standard format for room sizes and features, similar to what MLS has. Thanks for helping me to sell my home. Phil Parker I was very pleased with the success of the sale of my house. In 7 days I had two asking price offers. We went to Act of Sale 51/2 weeks after my listing it. The sale seminar was extremely helpful and Damon and Cathy made themselves endlessly available for guidance. Thank you VERY MUCH!!!! Joda Fuxan Privacy & Disclaimer Partner With Us Career Opportunities Press Room Contact Us Buying A Home Your Credit Report Terms and Conditions Home Selling Tips Selling Your Home 1997-2005 For Sale By Owner.com Home Selling Testimonials A home selling source for commission free selling of a home. Site Map Home Home Selling - Selling Home

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Amazon.co.uk: The Complete Guide to Buying Property in Spain: Buying, Renting, Letting and Selling: Books BOOK SEARCH BROWSE CATEGORIES SPECIAL OFFERS TOP SELLERS AUDIO BOOKS Paperbacks 3 for £12 NEW & USED TEXTBOOKS HARRY POTTER SELL YOUR BOOKS All Products -Books -Used Books -Collectable Books All Subjects -Art, Architecture & Photography -Audio Cassettes -Audio CDs -Biography -Business, Finance & Law -Children's Books -Comics & Graphic Novels -Computers & Internet -Crime, Thrillers & Mystery -Fiction -Food & Drink -Gay & Lesbian -Health, Family & Lifestyle -History -Home & Garden -Horror -Humour -Mind, Body & Spirit -Music, Stage & Screen -Poetry, Drama & Criticism -Reference & Languages -Religion & Spirituality -Romance -Science & Nature -Science Fiction & Fantasy -Scientific, Technical & Medical -Society, Politics & Philosophy -Sports, Hobbies & Games -Travel & Holiday -Young Adult All Subjects Art, Architecture & Photography Audio Cassettes Audio CDs Biography Business, Finance & Law Children's Books Comics & Graphic Novels Computers & Internet Crime, Thrillers & Mystery Education & Languages Fiction Food & Drink Gay & Lesbian Health, Family & Lifestyle History Home & Garden Horror Humour Mind, Body & Spirit Music, Stage & Screen Poetry, Drama & Criticism Reference Religion & Spirituality Romance Science & Nature Science Fiction & Fantasy Scientific, Technical & Medical Society, Politics & Philosophy Sports, Hobbies & Games Travel & Holiday Young Adult BOOKS INFO At A Glance Reviews Customer Reviews Search Inside! See more by this author E-mail a Friend About This Item Recommendations If you already own this, rate it and improve your recommendations , Not Rated Visit the Music shop Hopes and Fears ~ Keane (Artist) Find a huge selection of books at 30% off Become an Associate Join our Associates Programme and make money from your website! The Complete Guide to Buying Property in Spain: Buying, Renting, Letting and Selling Charles Davey Search inside this book List Price: £9.99 Our Price: £6.99 & eligible for Free UK delivery on orders over £15 with Super Saver Delivery. See details & conditions . You Save: £3.00 (30%) Availability: usually dispatched within 24 hours. 32 Used & New from £5.62 See larger photo Edition: Paperback More Product Details Perfect Partner Buy The Complete Guide to Buying Property in Spain: Buying,... with Buy to Let in Spain: How to Invest in Spanish Prop... today! Total List Price: £20.98 Buy Together Today: £14.68 Customers who bought this item also bought: Buying a Home in Spain 2005 ;Paperback~David Hampshire Property Hotspots in Spain: The Hottest Property Locations in the Sunny Costas and How to Invest in Them ;Paperback~Ajay Ahuja Living and Working in Spain ;Paperback~Survival The Complete Guide to Buying a Property in Spain ;Hardcover~Anthony Ivor Foster How to Buy Spanish Property ;Paperback~B.M. Spencer-Higgins, Helen Carter Explore similar items ... Product Details: Paperback 256 pages(July 1, 2004) Publisher: Kogan Page Language: English ISBN: 0749440562 Category(ies): Home & Garden , Travel & Holiday Average Customer Review: | Write a review Amazon.co.uk Sales Rank: 15,785 (Publishers and authors: improve your sales ) sign in to turn on 1-Click™ ordering. 24 New from 5.62 8 used from 6.69 Have one to sell? (We'll set one up for you) View my Wish List . Reviews —LAM (Living Abroad Magazine), June 2005 "Full of information on the language, inheritance laws, health and education and other useful stuff." Synopsis Written by a practicing barrister, this text offers people considering relocating to Spain practical advice on buying, renting, letting, and selling property there. Sample topics include choosing a location, financing the purchase, adapting to the country's lifestyle, and setting up a business. It also features flight information, maps, and an asso See all reviews... New! Search Inside! ( Learn More ) Search inside this book: You can view sample pages from this book. Customer Reviews Avg. Customer Review: Write an online review and share your thoughts with other shoppers! 12 of 12 people found the following review helpful: THOROUGH AND INFORMATIVE , January 10, 2005 Reviewer: robert raines from UK I found this book particularly clear and very well set out. Information is easy to find. The author covers the main points that I needed to know, and really gets to grips with the central issues of buying property in Spain - especially new property. The book contains crucial advice on inheritance and wealth tax.We found the information on settling in very good,especially the sections on learing Spanish and schooling in Spain. An excellent book that I can highly recommend! Was this review helpful to you? Customers who bought books by Charles Davey also bought books by these authors: David Hampshire Harry King Clive Kristen Andre de Vries Emma Gypps Look for similar books by subject: Browse for Books in: Subjects > Travel & Holiday > General Subjects > Travel & Holiday > Speciality Travel > Living & Working Abroad Subjects > Home & Garden > Buying & Developing Property > Property Guides Search for books by subject: British Business & Economics Business / Economics / Finance Home ownership House buying Household Management Housing Housing & property for the individual International - General Living & working abroad Personal Finance Personal Finance - General Personal Finance - Investing Spain i.e., each book must be in subject 1 AND subject 2 AND ... Comment on this title I have read this book and I want to review it. I am the author and I want to comment on my book. I am the publisher and I want to comment on this book. Correct errors and omissions in this listing. 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